EXAMPLE CASE STUDY
Savings & Investments On Bereavement
Louise’s husband sadly passed away. He had traditionally handled the finances, so while she was capable, she was unsure how his death would affect her future. She wanted to be sure that her future was secure. She also wanted to ensure that she did not make any major financial mistakes.
Initially the main problem was one of income since Louise’s husband’s illness prevented him from working. They needed to re-assess their expenditure to find ways to address this situation. Previously Louise’s husband had handled all the family finances, which meant that Louise had only a limited knowledge of their existing provisions.
Louise wanted to take control of her future financial direction. We found that since her late husband had managed things himself there were a number of assets of different types and risks. She wanted to reduce the risks taken with her money so she would not worry about the future.
We showed her the amount needed to secure her desired future lifestyle. This gave her peace of mind that she had enough assets and income to fund her future needs. Her plan meant she could easily understand her options. This allowed us to examine some scenarios and to explore ways that she could improve her position.
We created an investment plan to generate a flexible income to fund her future in a tax efficient way, whilst taking the least risk necessary to achieve this. The client was able to feel secure in her financial future at a very difficult personal time.
All this was done with a focus on taking very low risk while maintaining her future lifestyle needs. Each year we revise their financial plan so that we can react to any changes and re-assess whether they remain on target to meet their long-term goal of security.
As our clients typically demand the utmost confidentiality the information in this case study is not based on any individual and acts only as an example of how we could potentially help.